Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Economy
Huge investments propel GCC project sector growth
The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8...
- The GCC project sector, one of the world's most dynamic, has witnessed a significant surge in project awards, reaching $41.8 billion in the third quarter of 2023, says a report.
- Driven by diversification efforts, countries like Kuwait and Saudi Arabia lead in contract values, emphasizing sustainable projects that align with long-term economic aspirations.
Economy
Policy and infra drive Dubai’s global rise
The emirate's pro-business policies, dedicated trade zones, and emphasis on tech innovation position it as a premier financial hub, George...
- Dubai, historically a pivotal trading center, has evolved into a global hub for commerce, leveraging its strategic location and world-class infrastructure, says an expert.
- Business-friendly policies, specialized trade zones, and a commitment to tech innovation make the city a leading financial marketplace, adds George Pavel of Capex.com.
Economy
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
- Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
- The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029
Security risks hit gas flow amidst Israel-Hamas row
Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
- Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in weekly losses of hundreds of millions of dollars
- Chevron shifts gas exports as Israeli government declares market emergency, while local supply maintained with power plants ready with alternative fuels for energy stability
Geostrategy
Gulf Common Market aims for economic unity by 2025
The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
- The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
- Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region
Economy
Dubai’s sustainable vision beyond skyline
Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
- Dubai, renowned for its iconic skyline and luxury, is now leading the charge against climate change with investments and initiatives such as Dubai Clean Energy Strategy 2050
- The emirate prioritizes public transit, electric vehicles, and waste-to-energy solutions, placing global collaboration and partnerships at the heart of its climate strategy
Geostrategy
Gulf Common Market aims for economic unity by 2025
The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
- The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
- Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region
Economy
Infra investments crucial to Dubai’s growth and global allure
Dubai's iconic skyline and architectural marvels have garnered global attention, offering stunning views for visitors and residents alike. This allure...
- The emirate's strategic investments in infrastructure, from the Dubai International Airport to iconic landmarks like the Burj Al Arab, have bolstered its global stature
- With a prime focus on sustainability and a vision for 2040, Dubai continues to charm and attract businesses, tourists, and investors from across the globe
Economy
Vision 2040: Saudi Arabia’s new economic blueprint
Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...
- Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements
- With a focus on diversifying the economy, enhancing global competitiveness, and fostering innovation, Saudi Arabia is poised to redefine its global economic standing
Economy
World Bank expects Gulf economies to grow by 1 percent in 2023
Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...
- In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024.
- The World Bank added that Saudi Arabia's economy, the largest in the region, will contract by 0.9 percent in 2023 before rebounding to grow by 4.1 percent in 2024.
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Company News
UAE, KSA lead as tech and energy drive IPOs in GCC
Market Report
GCC at the forefront of 2024 sukuk market expansion
Market Report
Latest News
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
Economy
Most Read
Business
Crypto market sees drop in scams, stolen funds
The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue,...
- The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue, says a latest report.
- Revenues for crypto scamming and stolen funds fell significantly in 2023, with total illicit revenue down 29.2 percent and 54.3 percent, respectively, it adds.
Business
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...
- Antonio Gonzalez, CEO of Sunset Hospitality Group said that Dubai remains a key area of focus for the Group.
- The Group will now be entering Portugal over the next two months, its most recent market addition.
Business
Qatar to set up Centre for Fourth Industrial Revolution
Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...
- A Centre for the Fourth Industrial Revolution will also be established in Vietnam.
- WEF and GovTech Campus Deutschland announces the establishment of the Global Government Technology Centre Berlin.